Or giant megacorporations each hire 200,000+ of them to create products for the non-magic folk to consume.
After a few decades, the idea of being a wizard is synonymous with working 8+ hours a day on magic that no wizard really wants and there is so little new spells and magic being created in the world that everyone wishes there wasn’t any.
Then leaks come out that the products these megacorporations create have been slowly killing the planet and they’ve known for decades. But since they have so much power and money, nothing can stop them until the world dies.